Data is at the core of today’s digital business world and plays a quintessential role in making important business decisions. However, this data is usually scattered and unstructured causing redundancies and even economic losses to some extent. Master Data Management (MDM) solutions help in resolving such data-related issues. In this process, data is consolidated at a unified repository for better visibility and easy accessibility.
ITCube’s Master Data Management Services help organizations streamline business processes by reducing data complexity and obtaining high-quality data. Our services include master data management strategy, master data management consulting, data migration services, data consolidation services, data governance services, MDM integration services, inventory validation services, MDM cleansing and enrichment solutions, customer MDM services, MDM support services, etc. Our MDM team has years of experience and excellent domain expertise in catering to a wide range of clients.
This step involves analysis of existing data of the resources/materials. Here, we carry out an 80-20 pareto analysis based on expenditure, then we identify the critical resources and deep dive into this critical category.
In this step, we identify distinguishable groups/sub-groups of the resources. We also identify optimization opportunities like data consolidation, duplication elimination, improving uniqueness, etc. using data science techniques.
We then enrich the data through different solutions like category-based UPC data sources, and data collection using techniques like Data Cleansing, MPN, UPC, EAN, FSN Analysis, ABC Analysis, VED Analysis, etc.
Lastly, we extend the solution to other categories like Medium Critical and Low Critical items. We seek continuous improvement for data accuracy through process enhancements.